1995 06 20 FA Minutesd_0 LA QUINTA FINANCING AUTHORITY
MINUTES
June 20, 1995
Meeting of the La Quinta Financing Authority was called to order by Chairman Pefia.
PRESENT: Mrs. Bangerter, Mr. Cathcart, Mr. Perkins, Mr. Sniff, Chairman Pen-a
ABSENT: None
CONFIRMATION OF AGENDA Confirmed
APPROVAL OF MINUTES
MOTION It was moved by Mr. Sniff and seconded by Mrs. Bangerter to approve the
Financing Authority Minutes of August 2, 1994 as submitted. Motion carried with Mr. Cathcart
ABSTA?ING.
PUBLIC COMMENT None
BUSINESS SESSION
1. CONSIDERATION OF A RESOLUTION AUThORIZING THE EXECUTION AND
DELIVERY OF A BOND PURCHASE CONTRACT BY AND AMONG THE LA
QUINTA REDEVELOPMENT AGENCY,. LA QUINTA FINANCING
AUTHORITY, AND THE UNDERWRITERS NAMED THEREIN.
Mr. Frank Spevacek, of Rosenow Spevacek Group, advised that the document allows for
the sale of up to $28 million in Redevelopment Agency bonds to Stone & Youngberg.
He advised that the bonds will be insured and the transaction should be complete by the
end of July, 1995.
RESOL?ON NO. FA 954)1
A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A
BOND PURCHASE CONTRACT BY AND AMONG THE LA QUINTA
REDEVELOPMENT AGENCY, LA QUINTA FINANCING AUTHORITY, AND
THE UNDERWRITERS NAMED THEREIN.
It was moved by Mr Sniff and seconded by Mrs. Bangerter to adopt Resolution No. FA
95-01 as submitted. Motion carried unanimously.
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d_0 Financing Authority Minutes 2 June 20, 995
CONSENT CALENDAR None
DEPARTMENT REPORTS None
CHAIR AND BOARD MEMBERS' ITEMS None
PUBLIC HEARINGS None
MOTION It was moved by Mr. Sniff and seconded by Mrs. Bangerter that the meeting be
adjourned Motion carried unanimously.
R??ctfulI?subm;t;d?
DRAL;USecretary
La Quinta Financing Authority
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